Crowdfunding for Startups

Some western visitors mostly from Germany are visiting a company called "Avatech" which is an accelerator for startup companies in Tehran, March 13,2016. Aslon Arfa

The Security Exchange Organization (SEO), Ministry of Economy and Ministry of Communications will provide crowdfunding facilities for startups. Taadol writes that startups can use the dedicated service provided by the Iran FaraBourse to introduce their personnel, ideas and business model and gain access to financing up to 50 billion IRR (1.4 million USD). Crowdfunding is a common method worldwide which removes the founders’ needs for bank loans. The Minister of Economy, Masoud Karbasian said that due to the reduction of banking interest, liquidity in the capital market has risen allowing for the financing of startups. He added that after an idea has been approved by the Bourse Supreme Council, the Ministry of Co-ops, Work and Social Welfare can accumulate small resources in the form of cooperatives in order to create employment opportunities.

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